ADA/USD pair seems to have no clear direction currently.
The currency pair is one of two today’s leaders as it added nearly six percent in the past 24 hours. Cardano seems to feel good as ADA price moves along the green ascending trend line. However, currently, it is in correction. ADA/USD has crossed the support area at $0.2523 and currently loses its positions. Cardano price is still above the Ichimoku cloud meaning buyers are controlling the market.
Possible scenarios for Cardano are the following:
1. ADA/USD will develop its decline towards the green ascending trend line and test it. Sellers will have the opportunity to push Cardano even lower if successful. The closest support area is at $0.2387.
2. The currency pair will try to test the closest resistance area at $0.2523. Buyers will have an opportunity to drive Cardano even higher if successful.
3. ADA/USD will stay close to the current level without significant price changes.
The currency pair seems to have no clear direction currently. It moves along the higher border of the Ichimoku cloud on the hourly chart.
Check more detailed crypto analysis HERE
Possible scenarios for Cardano are the following:
1. ADA/USD will develop its decline towards the green ascending trend line and test it. Sellers will have the opportunity to push Cardano even lower if successful. The closest support area is at $0.2387.
2. The currency pair will try to test the closest resistance area at $0.2523. Buyers will have an opportunity to drive Cardano even higher if successful.
3. ADA/USD will stay close to the current level without significant price changes.
The currency pair seems to have no clear direction currently. It moves along the higher border of the Ichimoku cloud on the hourly chart.
Check more detailed crypto analysis HERE
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